Realty Income Corp., Escondido, Calif., has priced $100 million of 5-3/8% senior unsecured notes at 99.509.The pricing on the 10-year notes will produce an effective yield of 5.439%, the company said. The net proceeds will be used to repay borrowings under the company's $250 million unsecured acquisition credit facility. The co-lead managers of the offering are Banc of America Securities LLC (the sole book-running manager) and Salomon Smith Barney Inc. Realty Income can be found on the Web at http://www.realtyincome.com.
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Retail lender Rate separately launched yet another non-mortgage brand, with outdoor saunas and other furnishings following a high-end performance wear line.
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June purchase demand strengthened, refinances remained steady and pull-through improved, reversing May losses.
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The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.
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Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
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The Rithm subsidiary plans to reduce its involvement in decentralized operations through an agreement with the American Pacific Mortgage affiliate.
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A week after falling to its lowest point since mid-May, the 30-year fixed rate mortgage turned higher as the 10-year Treasury rose 15 basis points since June.
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